The Reserve Bank of India (RBI) has released its official list of bank holidays for December 2024, revealing that banks will remain closed for 17 days in the month. The holidays include national and local observances, which may vary based on the city. Customers planning to conduct bank transactions in December should take note of the holiday schedule to avoid any inconvenience.
Bank Holidays in India: A Comprehensive Guide
The Reserve Bank of India (RBI) officially designates bank holidays in India, aiming to ensure uniformity across the banking system. These holidays typically include national observances and local festivals, with the aim of providing respite and promoting cultural and religious practices.
Bank Holidays in December 2024
For December 2024, RBI has declared 17 bank holidays in India. These include:
Importance of Bank Holidays
Bank holidays serve several important purposes:
Frequently Asked Questions (FAQs)
1. How many bank holidays are there in India?
The number of bank holidays in India varies from year to year and depends on both national and local observances. On average, there are around 15-20 bank holidays annually.
2. Can banks be open on holidays?
In some exceptional circumstances, banks may operate on selected holidays for limited hours to cater to essential services like foreign exchange transactions and clearing of critical payments.
3. Do all banks observe the same holidays?
While RBI's holiday list is applicable to all scheduled commercial banks, cooperative banks, and regional rural banks in India, some private banks may have their own holiday schedules that may differ slightly.
4. What happens if a bank holiday falls on a weekend?
If a bank holiday falls on a Saturday or Sunday, it is typically observed on the next working day.
5. What are some upcoming bank holidays in India?
Apart from the December 2024 holidays listed above, some upcoming bank holidays in India include Republic Day (January 26), Independence Day (August 15), and Diwali (October 24) in 2025.
A consumer court in Delhi has ruled that Emami Limited, the makers of "Fair & Handsome" men's skin cream, must withdraw their misleading advertisements and pay a substantial fine of Rs 15 lakh. The court found that the product's packaging and advertising falsely promised customers visibly lighter skin within three weeks, leading to a misleading impression. The company has also been directed to pay Rs 50,000 as compensation to the complainant and another Rs 10,000 to cover the cost of litigation.
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In a move to accelerate its growth and expand its reach beyond metros and tier 1 cities, Max Life Insurance Co. Ltd. has officially changed its corporate name to Axis Max Life Insurance Ltd., after receiving approval from the registrar of companies. Along with the name change, the company has refreshed its brand identity and logo, incorporating Axis's 'A' and burgundy shade. This rebranding aims to combine the expertise and legacy of Max Life with the trust and familiarity of Axis, in order to create exceptional value for stakeholders and capitalize on new opportunities. With an enhanced distribution network and expanded partnerships, Axis Max Life is well-positioned for strategic expansion and value creation.
Giving negative feedback is a crucial skill for any good manager or team member, despite it being uncomfortable. Constructive criticism can serve as a driving force for personal and team development, and even inspire others to achieve more. However, it's important to deliver feedback in a balanced and mindful manner, as it can easily backfire if done incorrectly. By addressing the fear and discomfort around negative feedback and focusing on providing effective criticism, one can become a more effective leader and help their team thrive.
Mazagon Dock Shipbuilders, a leading PSU company in the shipping industry, has announced a corporate action for the first time in its trading history - a stock split. This move is expected to increase the company's outstanding shares and improve trading liquidity for its shareholders. With the government holding a majority stake, the minimum public shareholding requirement is still met and the company's stock has doubled investor wealth in 2024. Sign up for daily news and updates from Mazagon Dock Shipbuilders. Contact information available.
Elon Musk, the CEO of SpaceX and Tesla, has announced that the company's rocket launch site in South Texas will now be known as Starbase, an official city. The announcement was made on social media platform X and was followed by a letter sent to local officials requesting an election to incorporate the area. If approved, Starbase would become the newest city in Texas's Rio Grande Valley. This move comes after Musk relocated his personal residence and the headquarters of two of his companies from California to Texas in 2021. Despite facing criticism, Starbase has been an important location for SpaceX's operations, with over 3,400 employees and contractors working on the development and testing of Starship rockets for future missions to the Moon and Mars.
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Tech giant Meta (formerly known as Facebook) donates $1 million dollars to Trump's inaugural fund. This follows recent moves to mend the relationship between the two, including CEO Mark Zuckerberg's invitation to dinner with the president-elect and a gift of Ray-Ban smart glasses to Trump. This donation raises concerns about the influence of big tech companies on politics and the lengths they will go to maintain a good relationship with those in power. However, it is not uncommon for corporations to make donations to inauguration events in order to gain favor with the incoming administration.
After successfully raising Rs 2,400 crore from institutional investors, Vishal Mega Mart's IPO moves into its second day of bidding with a fully subscribed allocation for non-institutional investors. Despite a dynamic market environment, the hypermarket chain's IPO has generated significant interest with a minimum lot size of 190 shares for retail investors. The bidding window will close on Friday, December 13, with a price band of Rs 74-78 per equity share.